Ex­ec­u­tive says he paid US$36.1 mil. to Petrobras: me­dia

The China Post - - BUSINESS -

A top con­struc­tion com­pany ex­ec­u­tive has told in­ves­ti­ga­tors he paid US$36.1 mil­lion (NT$1.12 tril­lion) in bribes to ex­ec­u­tives at state oil gi­ant Petrobras, which is be­ing rocked by Brazil’s big­gest ever cor­rup­tion scan­dal, lo­cal me­dia re­ported Satur­day.

Ed­uardo Leite, vice pres­i­dent at the con­struc­tion firm Ca­margo Cor­rea, told pros­e­cu­tors the bribes stretched from 2007-2012. He is co­op­er­at­ing with au­thor­i­ties in ex­change for a po­ten­tial fu- ture re­duc­tion of his sen­tence, G1 news por­tal re­ported.

The con­struc­tion firm is al­legedly one of those that paid ex­ec­u­tives at Petrobras to give them con­tracts in ex­change for over­charg­ing. Then the ex­ec­u­tives would skim the dif­fer­ence.

“It was very easy,” Leite was quoted as say­ing in the re­port. He said over­charg­ing on gov­ern­ment con­tracts some­times reached as high as 20 per­cent.

Brazil’s Pres­i­dent Dilma

Rouss­eff chaired the Petrobras board dur­ing much of the pe­riod when the al­leged cor­rup­tion took place, though she has not been im­pli­cated in the scan­dal.

The scan­dal has taken a heavy toll on Petrobras, the largest com­pany in the world’s sev­enth-largest econ­omy.

Its chief ex­ec­u­tive and board of di­rec­tors re­signed in Fe­bru­ary, af­ter the com­pany lost nearly US$9 bil­lion in stock value af­ter be­ing down­graded by two rat­ings agen­cies.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.